YourVoice.Now Summary
Transparency & AccountabilityEvery dollar added to the debt limit would need a dollar cut — and a public cost estimate first.
Transparency & Accountability
The Congressional Budget Office would have to post its price tag for the bill on its website a full day before either chamber could vote on it.
Treasury would have to warn two committees once the government is within 60 days of hitting the limit, even after using emergency cash-shuffling steps.
More about this bill
Raising the federal debt limit would come with a matching price tag. Congress could not vote to raise or suspend the limit unless the same bill cuts spending by an equal amount over ten years. You would see one direct change. The Congressional Budget Office's cost estimate must sit on its public website for a full day before any such vote. In the Senate, setting the rule aside would take 60 votes instead of a simple majority. Savings from lower interest payments would not count toward the target.
Congressional Summary
Dollar-for-Dollar Deficit Reduction ActThe bill establishes a framework to require legislation that increases or suspends the public debt limit to include spending reductions that are equal to or greater than the projected increase in debt that will occur under the legislation. The bill allows the spending reductions to be phased in over the period that includes the current and next 10 fiscal years.Specifically, the bill requires the Department of the Treasury to notify the House Ways and Means Committee and the Senate Finance Committee when it determines that the federal government will reach the debt limit within 60 days without the implementation of extraordinary measures. The notification must also indicate when extraordinary measures may be necessary to prolong the funding of the federal government in the absence of a debt limit increase.In addition, the bill requires any formal presidential request to increase the debt limit to include (1) the amount of the proposed increase, and (2) proposed legislation to reduce spending by an amount that is equal to or greater than the amount of the requested increase.Finally, the bill establishes budget points of order that may be raised in the House of Representatives and the Senate against legislation that increases or suspends the debt limit and does not contain net spending reductions that are equal to or greater than the increase in the debt that will occur under the legislation.
Details
- Congress
- 119th
- Chamber
- House
- Status
- summarized
- Action
- Introduced in House
- Action Date
- 2026-08-10
- Date Added
- 2026-08-25
- Source
- Congress.gov →
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